The "Purchase-Equity-Plus" loan program is an innovative way to purchase both investment and owner-occupied property.
Let's look at each type of purchase one by one.
Purchase of investment property
* The P.E.P. loan allows you to qualify for purchasing an investment property up to 100% of the sales price
and also INCLUDE MONEY TO DO MINOR REPAIRS.
* The amount you can borrower is determined by the appraised value of the property after the home is purchased and repairs
are done.
* Repairs must be done within 25 days of closing on the purchase of the property.
* Fantastic program for purchasing properties at auction or foreclosure sale!
Purchase of primary residence
* The P.E.P. loan allows you to qualify for purchasing a primary residence up to 100% of the sales price.
* The amount you can borrow is determined by the appraised value of the home, not the sales price.
* This is the perfect loan program for people that can't qualify for no-money-down financing but want to purchase a home
that is selling for less then it appraises for!
